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Actually i came to know about Mi 5 just after posting the question,As per the early reviews the phone looks awesome,and releasing in India on this 6th. I am going for this one.Kaustubh KatdareIf it's for general usage - I'd recommend that you might want to consider the latest Xiaomi MI5. It packs excellent hardware and I personally like the MIUI theme - very pleasing to eyes (but again, that's very personal opinion).
Most regular phones will get critical software patches. The only advantage I've seen with pure Android phones is that they get the latest OS version quicker. I'm not a big fan of Android's pure skin and a new OS doesn't always make things better.
If you are a gamer who downloads premium games - you might want to pay a little more attention to the graphics. From the early reviews, MI5 looks to be a good option.